HomeContributorsTechnical AnalysisEUR/JPY Might Aim For 200-Hour SMA Today

EUR/JPY Might Aim For 200-Hour SMA Today

The single European currency depreciated about 79 basis points against the Japanese Yen on Monday. The currency pair breached both the 50– and 100– hour SMAs at the end of the previous trading session.

In Regards the near future, the EUR/JPY exchange rate will most likely continue to edge lower until it reaches the lower boundary of an ascending channel pattern at 118.66.

However, technical indicators demonstrate that the currency exchange rate will surge during the following trading session.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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